Press Kit May 2019

Table of Contents

About the Alliance for Market Solutions ...... 3 Leadership and Staff...... 3 AMS ...... 3 AMS Board of Advisors ...... 4 AMS Staff ...... 7 Contact Information ...... 8 About Carbon Tax Policy...... 9 Frequently Asked Questions ...... 9 AMS Resources ...... 10 Other Resources ...... 11

AMS Press Kit — May 2019 2 About the Alliance for Market Solutions

The Alliance for Market Solutions (AMS) is an organization of conservative leaders addressing two of America’s most pressing challenges: the need to reduce airborne carbon pollution and grow the economy.

We respect climate change science and support replacing regulations with a revenue- neutral carbon tax—a policy that would efficiently protect the environment and deregulate and grow the economy.

AMS engages directly with influential conservatives, including policymakers, to cultivate support for a revenue-neutral carbon tax. We also conduct research that demonstrates the viability and benefits of a carbon tax.

Leadership and Staff

AMS Board of Directors

Jeffrey Williams, Chairman Mr. Williams served as an investment banker for 34 years, first with Morgan Stanley, then as a partner at Greenhill & Co., and finally as the founder and chairman of Jeffrey Williams & Co. He currently dedicates himself to advancing Republican approaches to clean energy and climate change.

William Kunkler, Director Mr. Kunkler is executive vice president of operations for CC Industries (CCI), a private equity firm focused on manufacturing companies and real estate investments. He is also vice president of Henry Crown and Company, the parent company of CCI.

AMS Press Kit — May 2019 3 William Strong, Director Mr. Strong is the chairman and managing director of the private equity firm Longford Capital Management. He previously served as an investment banker, concluding his 35-year career as a member of the Morgan Stanley’s management committee. Mr. Strong has been an active Republican, having served in various Presidential and other campaigns over the past 25 years.

AMS Board of Advisors

Vicky A. Bailey Ms. Bailey is the president and founder of Anderson Stratton Enterprises, an energy industry consulting firm. Previously, she served as assistant secretary for both domestic policy and international affairs in the Department of Energy during the George W. Bush Administration and as a Republican commissioner of the Federal Energy Regulatory Commission during the Clinton Administration.

John Canning Jr. Mr. Canning is chairman of Madison Dearborn Partners (MDP). Prior to co-founding MDP, he spent 24 years with First Chicago Corporation, most recently as executive vice president of The First National Bank of Chicago and president of First Chicago Venture Capital. He currently serves on the boards of directors of Corning Incorporated and Milwaukee Brewers Baseball Club and is a life trustee of .

Carlos Curbelo Congressman Curbelo represented 's 26th congressional district from 2015 to 2019, during which he co-founded and co- chaired the Climate Solutions Caucus and introduced the first Republican legislation to address climate change in a decade. He currently serves on the advisory board of the Millennial Action Project and is a regular contributor for NBC Universal.

AMS Press Kit — May 2019 4 Christopher DeMuth Mr. DeMuth is a distinguished fellow at . He was president of the American Enterprise Institute from 1986 through 2008 and previously was a teacher, practicing , and consulting . He served in the administrations of and and had responsibilities for environmental policy during both tours.

Craig J. Duchossois Mr. Duchossois serves as chairman, chief executive officer, and director of The Duchossois Group Inc. He also serves as the chairman of Duchossois Capital Management LLC. Mr. Duchossois is currently chairman of The Chamberlain Group Inc. and director of Amsted Industries Inc. and serves on the board of directors of BANA Holding Corporation.

John Graham Dr. Graham is the dean of the University School of Public and Environmental Affairs. Previously, he served as the Senate- confirmed administrator of the Office of Information and Regulatory Affairs in the U.S. Office of Management and Budget during the George W. Bush Administration. In this role, he was responsible for federal regulatory policy.

Glenn Hubbard Dr. Hubbard is the dean of Columbia University’s graduate school of business. He previously served as deputy assistant secretary at the U.S. Department of the Treasury and chairman of the Council of Economic Advisors.

AMS Press Kit — May 2019 5 William Kunkler Mr. Kunkler is executive vice president – operations for CC Industries (CCI), a private equity firm focused on manufacturing companies and real estate investments. He is also vice president of Henry Crown and Company, the parent company of CCI.

Mel Martinez Senator Martinez was the first Cuban-American elected to the U.S. Senate (2004). He also served as chairman of the Republican National Committee and as the secretary of the Department of Housing and Urban Development during the George W. Bush Administration. He currently serves as chairman of the Southeast and for JPMorgan Chase & Co.

Marvin Odum Mr. Odum is a global energy business leader with 34 years of experience in the oil and gas industry. From 2008 to 2016, he served as the chairman and president of Shell Oil Company and, concurrently, as executive committee director for Royal Dutch Shell plc. During this period, Mr. Odum served on the board of directors of the American Petroleum Institute. Since retiring, he has started two companies focused on water remediation and hazardous waste recycling.

John W. Rowe Mr. Rowe is chairman emeritus of Exelon Corporation, an electric utility serving Chicago, Philadelphia and Baltimore. He previously served as chief executive officer of the New England Electric System and Central Power Company. Mr. Rowe is a past chairman of Edison Electric Institute and co-chairman of the National Commission on Energy Policy and served on the Secretary of Energy’s Blue Ribbon Commission on America’s Nuclear Future.

AMS Press Kit — May 2019 6 Edward B. Rust, Jr. Mr. Rust served 30 years as chief executive officer of Mutual and its principal affiliates. He was the chairman of the American Enterprise Institute from 1999 to 2002. Mr. Rust currently serves as a trustee of The Conference Board and Wesleyan University and is a member of the boards of directors of Caterpillar, Helmerich & Payne, and S&P Global.

William Strong Mr. Strong is the chairman and managing director of the private equity firm Longford Capital Management. He previously served as an investment banker, concluding his 35-year career as a member of the Morgan Stanley’s Management Committee. Mr. Strong has been an active Republican, having served in various Presidential and other campaigns over the past 25 years.

Stephen M. Wolf Mr. Wolf spent his career in commercial aviation, where he worked for seven U.S. airlines and was chairman and CEO of four: United, U.S. Airways, Republic, and Flying Tiger. He was also a senior advisor at Lazard Freres and was retained by Air France to restructure the company. He currently sits on the boards of directors of Fiat Chrysler and Philip Morris International.

AMS Staff

Alex Flint, Executive Director Mr. Flint joined AMS as executive director in May 2017. He previously served as staff director of the U.S. Senate Committee on Energy and Natural Resources, senior vice president of governmental affairs at the Nuclear Energy Institute, and as a member of President Trump’s transition team.

Chris Carter, Director of Development Mr. Carter joined AMS as director of development in May 2017. He recently served as the political affairs coordinator for an energy trade association where he managed the day-to-day activities of the political action committee and executed the budget and

AMS Press Kit — May 2019 7 annual reporting for his division. Previously, he fundraised for a member of Congress while also serving as the program manager for a non-profit that focused on outreach to Capitol Hill.

Meredith Davis, Director of Communications Ms. Davis joined AMS as director of communications in May 2018. She has extensive experience managing corporate relations and membership programs for associations. Most recently, she was a director at a public relations firm, where she led communications campaigns focused on education and healthcare.

AMS board members and staff are available to talk to members of media. Please contact [email protected] for specific requests.

Contact Information

Telephone number: 202-864-0860

Email address: [email protected]

Mailing address: 325 Seventh Street, NW Suite 820 Washington, DC 20004

Website: amsresearch.org

Twitter handle: @AMSResearchOrg

AMS Press Kit — May 2019 8 About Carbon Tax Policy

The carbon tax policy landscape is evolving. The Alliance for Market Solutions (AMS) aims to be at the forefront of relevant conversations as well as evidence-based and thought-provoking resource development through its robust research program.

Below are answers to common questions about carbon tax policy followed by a list of recent AMS-funded resources.

To learn more and access our full library of resources, visit amsresearch.org.

Frequently Asked Questions

What is a carbon tax? A carbon tax is a tax levied on the carbon content of fuels and other products and processes that generate emissions of carbon dioxide or other greenhouse gases.

AMS supports a revenue-neutral carbon tax policy to address climate change while promoting economic growth. Unlike regulations, a revenue-neutral carbon tax policy is a market-based solution that would allow conservative leaders to address the growing environmental concerns of voters without violating free-market principles. For more details, click here.

Why a carbon tax policy? generally agree that taxes are more efficient than regulations in reducing carbon pollution. Therefore, using a carbon tax to reduce carbon pollution achieves the same result but costs the economy less than through regulation.

Additionally, a carbon tax produces revenue that can be used to reduce other distortionary taxes and inefficient regulations, both of which hinder economic growth.

How should revenue from a carbon tax policy be used? All revenue from a carbon tax should be used to reduce other, more distortionary taxes that hinder economic growth, including taxes on earnings and income. The net effect of a more efficient tax system will be economic growth. To learn more about the economic impact of a carbon tax, click here.

Who supports a carbon tax? Republican Congressmen , , and Brian Fitzpatrick introduced carbon tax legislation in the 115th Congress. The legislation is the first by

AMS Press Kit — May 2019 9 Republicans in a decade to address climate change, showing that Republicans willing to lead on this issue prefer a carbon tax versus regulation.

AMS collaborates with a number of conservative organizations to strengthen efforts to eliminate costly regulations and present a carbon tax policy as an efficient alternative. On July 18, 2018, many of the organizations signed a letter criticizing the anti-carbon tax resolution introduced by Representative Steven Scalise.

Why do conservatives need to address climate change? Addressing climate change is critical to the future, especially to the future of the Republican party. A survey conducted by Echelon Insights for AMS found:

• Nearly nine out of 10 millennials believe climate change is happening, and the vast majority of those believe that change is being driven by human activity. • 80 percent of young voters said they are concerned about air pollution and 77 percent say they are concerned about climate change. • Over 60 percent of young Republicans said they are concerned about air pollution, and over 50 percent say they are concerned about climate change.

Additional frequently asked questions can be found here.

AMS Resources AMS supports new research and analysis to encourage an open dialogue among conservatives and to build a foundation for greater understanding and future action on clean energy and carbon pollution. A sample of AMS-funded resources is listed below.

Carbon Tax Policy: A Conservative Dialogue on Pro-Growth Opportunities, Alex M. Brill (editor), American Enterprise Institute (AEI); Kristen Soltis Anderson, Echelon Insights; Robert J. Carroll, EY; John D. Graham, Indiana University; Aparna Mathur, AEI; Phillip Swagel, University of Maryland; Alan D. Viard, AEI This book addresses how a revenue-neutral carbon tax offers a pro- growth alternative that is more efficient than the existing regulatory regime. It brings together conservative experts to answer practical and theoretical questions.

Carbon regulations vs. a carbon tax: A comparison of the macroeconomic impacts, Robert J. Carroll, et al., EY This report compares the macroeconomic costs of achieving a given reduction in carbon pollution through regulations versus a carbon tax. It concludes that a carbon tax can

AMS Press Kit — May 2019 10 achieve the same results as regulation at a much lower cost. The report also finds that if regulations are replaced by a carbon tax and the proceeds of the tax are used to cut other taxes, the result could yield gross domestic product growth of up to 3.2 percent.

The Economic, Fiscal, and Emissions Impacts of a Revenue‐Neutral Carbon Tax, Scott Nystrom, Katie O’Hare, Ken Ditzel, FTI Consulting This report examines how a revenue-neutral carbon tax could permanently extend the newly enacted individual income tax cuts, as well as other expiring tax provisions, without adding to the deficit. The study also investigates the expected energy market impact, effect on carbon dioxide emissions, and state-by-state and national macroeconomic impact of a revenue-neutral carbon tax.

How Induced Innovation Lowers the Cost of a Carbon Tax, Joe Kennedy, Information Technology and Innovation Foundation This report details how a market-oriented carbon tax would induce innovation in cleaner technologies and boost economic growth. The study shows that if the tax revenues are used to provide tax incentives for research and investment, they are likely to lead to higher, not lower, GDP growth, while at the same time making progress against global warming.

The Political Economy of a Carbon Tax: A County-by-County Investigation, Alex Brill, American Enterprise Institute; Scott Ganz of the Georgia Institute of Technology This report examined the net impact of a revenue-neutral carbon tax in nearly all of the 3,000+ counties in the . Using historical election results data, the study found that there is a weak relationship between the impact of a revenue-neutral carbon tax and counties’ partisan leanings.

Other AMS-funded resources can be found here.

Other Resources A sample of articles authored by influential conservatives that support a carbon tax are listed below.

An Insurance Executive Explains Why We Need a Carbon Tax Edward B. Rust Jr., Former Chief Executive, State Farm, AMS Board of Advisor

Confessions of a former carbon tax skeptic Josiah Neeley, Energy Policy Director, R Street Institute

AMS Press Kit — May 2019 11 We need to cut carbon emissions without killing economic growth Douglas Holtz Eakin, President, American Action Forum

1978 is gone: American's energy sector is now way too over-regulated John Rowe, Chairman Emeritus, Exelon Corporation; Alex Flint, Executive Director, AMS

AMS Press Kit — May 2019 12